VIETNAM STEEL SCRAP: Prices surge again on global increases

Import scrap prices in key Vietnam import markets continued on an upward trend this week, in line with increases in other parts of the world.

"Prices just keep increasing. We are looking for alternative supply other than US or Japan-origin," a Vietnamese buyer told Fastmarkets on Thursday July 30.
Bid-offer gaps and negotiation levels were at wide ranges this past week.
Market sources reported a wide range of transactions for bulk Japanese H2 cargoes, including $257 per tonne cfr southern Vietnam, a 5,000-tonne cargo at $260 per tonne cfr southern Vietnam and $267-268 per tonne cfr Vietnam.

Prices at $260-270 per tonne cfr Vietnam were deemed more representative of the current spot market. Buyers said they had heard bids at...

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